Meaning of “And also any other income chargeable to tax”

Case Name : Janki prasad garden enclave (p.) Ltd. V. Asstt. Cit

Citation : [2005] 92 itd 47 (luck. – Trib.)

Court : Itat-lucknow

Section : 147

Meaning : Section 147 has also used the words ‘and also any other income chargeable to tax’. The use of the words ‘and also’ is very important. It means addition on account of escaped income and the other escaped income which comes to the notice of the assessing officer. Thus, unless the addition of ‘such income’ is made, no addition in respect of ‘any income chargeable to tax’ could be made.